Finance department gets $1 million judgment against mortgage broker

Finance department gets $1 million judgment against mortgage broker

by
Idaho Freedom Foundation staff
August 11, 2010
Idaho Freedom Foundation staff
Author Image
August 11, 2010

A Seattle mortgage company has been ordered to pay more than $1 million for violating Idaho’s mortgage and financial fraud laws.

An Idaho district judge found that Access Mortgage committed aggravated and serious violations of Idaho’s laws, including originating loans without a mortgage loan license on more than 400 occasions, mostly in Boise and north Idaho.

“The court’s findings and entry of a million dollar plus money judgment against Access Mortgage sends a clear message to the mortgage industry that financial fraud and unlawful practices will not be tolerated in Idaho,” said Gavin Gee, the director of the Idaho Department of Finance, which brought the lawsuit against the company.

The $1 million penalty will go to the Department of Finance, and revert to Idaho’s general fund next July.

Access Mortgage will also need to repay an elderly couple $27,000 for not providing them with required notices concerning closing costs on a mortgage they obtained from the company.

Read more on the settlement at the Department of Finance’s website.

Idaho Freedom Foundation
802 W. Bannock Street, Suite 405, Boise, Idaho 83702
p 208.258.2280 | e [email protected]
COPYRIGHT © 2021 Idaho freedom Foundation
magnifiercrossmenucross-circle
>
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram